China says US trade truce extension creates space to advance talks
BEIJING: China said on Monday (Sep 28) that a two-month extension of a trade truce with the United States would provide space for both sides to evaluate the implementation of their arrangement to resolve economic and trade issues, while considering how to advance on those fronts.In confirming the extension th
US President Donald Trump shakes the hand of China's President Xi Jinping as US First Lady Melania Trump and China's First Lady Peng Liyuan watch as they arrive at the National Archives Museum on Sep 25, 2026, in Washington. (File photo: AP/Julia Demaree Nikhinson)
BEIJING: China said on Monday (Sep 28) that a two-month extension of a trade truce with the United States would provide space for both sides to evaluate the implementation of their arrangement to resolve economic and trade issues, while considering how to advance on those fronts.
In confirming the extension through to Jan 10, China's commerce ministry said it also provides a "relatively stable and predictable policy environment" for cooperation among companies and continued active discussions.
The extension was one of the key takeaways from the second summit this year between Chinese President Xi Jinping and US President Donald Trump, hosted in Washington last week.
Among the first steps under a trade council that both sides have agreed to form is to discuss a reciprocal tariff cut on US$30 billion of products, aimed at maintaining stable bilateral economic and trade relations.
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That would also create better conditions for the export of related Chinese products to the US, the ministry said in its statement.
The economic and trade teams from both sides will conduct regular dialogues focusing on potential investment opportunities and barriers, enhancing policy transparency and predictability, and responding to reasonable concerns from enterprises, it said.
Both countries will also set up an agriculture working group under the trade council, which will hold its first meeting before the year ends to discuss two-way market access and regulation for agricultural products, the statement showed.
The presidential summit also yielded a coal trade agreement for China to import coal from the US in 2027 and 2028.
"Importing US coal is not only a beneficial supplement to China's domestic coal market, but also brings stable economic income and employment to the US coal industry," the Chinese ministry said.
On artificial intelligence, both sides have agreed on a communication channel for incidents and will hold a follow-up dialogue by the end of November.
China will also examine and approve foreign financial services institutions, including those with US capital, to conduct business and open branches in China.
There will also be continued communication on increasing flights between China and the US, the ministry statement said.
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